Transferring money anywhere should be a safe and easy process. Unfortunately, after the Commonwealth Bank money laundering debacle many are wondering how to send their money safely without using a bank. The greatest thing about sending money overseas, most of it can be done with your phone!
Send It Online
With many services, like Ria Money Transfer, sending money overseas takes just a few clicks of the mouse and a few minutes of your time. There is plenty of flexibility as well. You can opt to payout from your credit card, debit card, or directly from your bank account. You can choose to send it to your recipient or to their bank account. Choosing to send it to the recipient means they go and pick up the cash at a local retailer near them. Many of these services are in plenty of convenient locations but do check to be sure that there is a location near your recipient.
These sites also calculate the transfer fees and currency exchanges for you. You will know exactly how much you are paying and how much your recipient is receiving. In most cases, the recipient can receive the cash within the same day. On the rare occasion that your transaction is flagged, the funds could take up to 48 hours to reach your recipient.
Use Your Online Wallet
Many online wallets offer money transfers easily and is considered one of the best ways to transfer money. There is a catch! Many online wallets don’t allow for a change in currency so sending money becomes a bit harder. If your recipient is on the same online wallet then you can send money and let them deal with currency exchange rates if they want to take out cash from their own account. However, if your online wallet offers a debit card in their program and your recipient already has one, then transferring money is simple and they can use their debit card freely with the online wallet taking care of the exchange rates electronically. Before you use your online wallet, first check to see if they offer any sort of international transferring. Not all of them do and some are now creating services to cover such situations.
Do It The Old Fashioned Way
When sending money quickly first became a trend, it all began with the wire transfer. You would go to a retailer, pay them the money in cash, they would contact the retailer in the destination you requested (if they had a retailer there) and your recipient would pick it up. You can still do that to this day! This can be a suitable option if, for any reason, online transfers are not available to the recipient. Recipients can pick up their cash within an hour in most cases, rarely does it take any longer. This would truly be a last resort option as the online transfer have taken the lead in best money practices. Because of this, retailers who offer in-person transfers are now offering online options in order to remain competitive. It certainly wouldn’t hurt to research their options and see if it is your best fit!
Why we transfer money can be as vast as the sky. When it comes down to an emergency, you want the fastest and most reliable, yet affordable, option you can. Be sure to comparison shop and make sure your preferred method is available to your recipient.
